Financial overview
2023
2023 Highlights
(see figures below for a fuller picture)
- As of December 31st, 2023, PLOS had net assets of $24.7 million, reduced by more than $1 million compared to the previous year’s $25.9 million.
- Of the 2023 year-end net assets, cash and unrestricted investments totaled $17.1 million compared to $16.5 million at year-end 2022.
- For the year ending December 31, 2023 PLOS generated total revenues of $34.2 million compared to total revenues of $32.3 million in 2022. This increase was primarily driven by unrealized gains on investments.
- 2023 total expenses of $34.9 million compared with $33.3 million in 2022.
Financial statements
BALANCE SHEET
December 31,2023
($000’s)
| ASSETS | |
| Current assets | |
| Cash and cash equivalents | 1,882 |
| Program and accounts receivable, net | 5,588 |
| Prepaid expenses and other | 822 |
| Contributions and grants receivable, net | 8 |
| Total current assets | 8,300 |
| Noncurrent assets | |
| Investments | 15,193 |
| Restricted investments, long term | 176 |
| Property and equipment, net | 240 |
| Operating lease right of use asset, net | 827 |
| Deposits | – |
| Total noncurrent assets | 16,436 |
| Total assets | 24,736 |
LIABILITIES AND NET ASSETS
| Current Liabilities | |
| Accounts payable | 2,281 |
| Accrued liabilities | 1,092 |
| Institutional deposits | 703 |
| Deferred revenue | 1,523 |
| Operating lease liability, current portion | 917 |
| Total current liabilities | 6,516 |
| Operating lease liability, net of current portion | – |
| Total liabilities | 6,516 |
| Net assets | |
| Without donor restrictions | 18,220 |
| With donor restrictions | – |
| Total net assets | 18,220 |
| Total liabilities and net assets | 24,736 |
STATEMENT OF ACTIVITIES
For the Year Ended December 31, 2023
($000’s)
| Revenue, gains (losses) and support | |
| Public support revenue | 14 |
| Program revenue | |
| Publication fees, gross | 30,510 |
| Less: Publication fee assistance | (4,362) |
| Publication fees, net | 26,148 |
| Institutional program revenue | 6,128 |
| Reprints and sponsorships | – |
| Advertising | 256 |
| Total program revenue | 32,546 |
| Unrealized gains (losses) on investments | 1,149 |
| Other income (expense), net | (40) |
| Interest and dividend income | 497 |
| Forgiveness of PPP Loan | – |
| Total revenue, gain (losses) and support | 34,152 |
| Expenses | |
| Publishing program expenses | 28,477 |
| General and administrative expenses | 6,420 |
| Total expenses | 34,897 |
| Change in net assets | (745) |
Total expenses
Inclusive of Capitalized Development Costs and Publication Fee Support
Total expenses = $34,896,378
